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Thomas Masterman

Partner

Email

thomas.masterman@aoshearman.com

Phone

+44 20 3088 3386

Offices

London

V-CARD
Tom has extensive experience helping clients navigate all aspects of antitrust, regulatory and foreign investment law.

Tom has advised on antitrust aspects of some of the highest profile M&A matters in the market in recent years. His experience spans substantively challenging Phase 2 merger investigations by the European Commission and UK Competition and Markets Authority, as well as routinely coordinating global merger control clearances for large cross-border deals. He is also an experienced advisor on multi-jurisdictional foreign investment and national security clearances, including handling complex and sensitive reviews under the UK National Security and Investment Act.

Tom has an equally established track record of advising on big-ticket cartel, abuse of dominance and market investigations. He also regularly helps clients design and enhance their antitrust compliance policies and procedures at a global, EU and UK level.

Tom is as a member of the Joint Working Party of the Bars and Law Societies of the United Kingdom on Competition Law. He also sits on the firm’s Social Mobility Committee.

Tom is listed in Legal 500 directory as a “rising star” and a “next generation partner”. He is also ranked as “future leader” by Who’s Who Legal.

Experience

Representative matters

News UK on CMA clearance of its newspaper printing JV with Daily Mail. The CMA’s decision to clear the transaction made an essential contribution to extending the lifespan of print newspapers in the UK.

Recticel on the CMA Phase 2 clearance of the sale of its engineered foam business to Carpenter Group; the first case to use the CMA’s ‘accelerated’ Phase 2 process.

A multinational telecommunications company on the CMA clearance its GBP31bn joint venture with Telefónica SA to merge Virgin Media and O2.

21st Century Fox on EC and global merger control clearances for its USD 71bn acquisition by The Walt Disney Company, and the CMA Phase 2 merger control and public interest reviews for its proposed acquisition of Sky plc.

A public petroleum and natural gas company on merger control and FDI clearances for range of M&A matters, including its recent investment in MidOcean Energy and logistics JV with DHL.

Corio Generation on merger control and FDI aspects if its JV with Ontario Teachers to develop up to 9GW of global offshore wind projects.

Maersk on global merger control and FDI approvals for its USD3.6bn acquisition of leading Asian logistics provider, LF Logistics, from Li & Fung.

Hitachi on various global cartel matters, including the EC Power Transformers, Auto-Parts LCD, CRT and GIS investigations.

Grünenthal on merger control reviews for numerous M&A matters, including its acquisition from Astra Zeneca of Nexium, Vimovo and Zomig.

Macquarie Asset Management on antitrust and regulatory aspects of its GBP 1bn acquisition of a majority stake in Southern Water.

Endemol Shine Group on EC and global merger control clearances of its sale to Banijay, to create the world’s largest TV production company.

Hitachi Automotive Systems on EC merger control approvals for its acquisitions of JR Automation Technologies and Chassis Brakes International and on its global auto-parts JV with Honda.

A multinational telecommunications company on merger control and FDI clearances for the establishment of its pan-European data centre platform.

Tullett Prebon plc. on global antitrust clearances of its GBP1.6bn acquisition of ICAP, forming the world’s largest interdealer broker.

Fox Networks Group on the investigation by the EC into alleged anti-competitive behaviour in the sports rights business.

A global financial institution in relation to EC’s credit default swap cartel investigation.

Pro bono

Tom sits on the firm’s Social Mobility Committee and advises the Board of Progress Together (established to improve socio-economic diversity at senior levels in UK financial and professional services).

Published Work

  • Philip Mansfield, Thomas Masterman, Imogen Carr (2024) “Global antitrust enforcement report”, A&O Shearman
  • Philip Mansfield, Thomas Masterman, Imogen Carr (2023) “Global antitrust enforcement report”, Allen & Overy LLP
  • Philip Mansfield, Thomas Masterman, Imogen Carr (2022) “Global antitrust enforcement report”, Allen & Overy LLP
  • Thomas Masterman (2021) “FTC launches multilateral working group with EU, UK and Canadian antitrust authorities to take tougher stance on pharmaceutical mergers”, Allen & Overy LLP

Leadership Positions And Professional Affiliations

Member, Law Society of England and Wales.

Member, Joint Working Party of the Bars and Law Societies of the United Kingdom on Competition Law.

Recognition
“He is thorough, dependable and a pleasure to work with”
Who’s Who Legal, 2023
“He’s a brilliant lawyer”
Who’s Who Legal, 2022

Awards

  • World top 10 for merger control and cartels work - Global Competition Review, 2024
  • Ranked: Band 2 - Chambers UK, Competition Law, 2024
  • Top 3, Global Elite firms, Global Competition Review 2020
  • TMT Firm of the Year, Legal 500 UK Awards 2019
  • Competition Team of the Year, British Legal Awards 2018
  • Competition Team of the Year, Legal Business Awards 2017
  • GCR Behavioural Matter of the Year Europe 2016

Qualifications

Admissions

Admitted as solicitor, England and Wales, 2006 

Academic

BA, European Legal Studies, Durham University

Erasmus Programme, Katholieke Universiteit Leuven

Postgraduate Diploma in Competition Law, King's College London, 2009

Disclaimer
A&O Shearman was formed on May 1, 2024 by the combination of Shearman & Sterling LLP and Allen & Overy LLP and their respective affiliates (the legacy firms). Any matters referred to above may include matters undertaken by one or more of the legacy firms rather than A&O Shearman.